Highland/iBoxx Senior Loan ETF

Investment Objective

The investment objective of Highland/iBoxx Senior Loan ETF (the “Fund”) is to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the Markit iBoxx USD Liquid Leveraged Loan Index (the “Underlying Index”).

Investment Approach

The Fund will, under normal circumstances, invest at least 80% of its assets in component securities of the Underlying Index. The Fund may invest the remaining 20% of its assets in securities not included in the Underlying Index, but which Highland Capital Management Fund Advisors, L.P. believes will help the Fund track the Underlying Index.